setting up a new conveyancing practice

[Guest]

Good afternoon,

Does anyone have any experience/advice with regards to starting a brand new conveyancing practice? The plan is to set up a limited company with sole directorship but the biggest concern is lender panels and CQS/SRA accreditation.

Having looked at the panel requirements, all the main mortgage lenders seem to require at least 1 director, 2mln PPI limit, CQS/SRA accreditation and at least 1 purchase completion with any mortgage lender within the past 12 months. HSBC do not require any previous completions so would seem that once you have completed 1 purchase with HSBC mortgage you may apply for other major lender panels.

Any input and guidance is greatly appreciated, or perhaps a link to some helpful pages that have further information on this topic.

Many thanks

[ULA]

What legal qualified staff will you have carrying out your conveyancing work?

[User4395]

What legal qualified staff will you have carrying out your conveyancing work?

Thanks, it will be myself (initially at least), a solicitor with over 3 year PQE

[ULA]

As a conveyancing solicitor providing a reserved activity you will need to be regulated by the SRA. I would suggest that you look around the SRA's website about the process for getting yourself regulated. These are some useful ones to start with:

https://www.sra.org.uk/solicitors/gu...ent-solicitor/

https://www.sra.org.uk/solicitors/gu...authorisation/

https://www.sra.org.uk/solicitors/fi...authorisation/

You will also need to obtain Professional Indemnity Insurance and details can again be found on the SRA website but I have provided a useful link below that you can work back from

https://www.sra.org.uk/solicitors/st...nsurance-rules

You will need to have set yourself up correctly first before being able to apply for any panel memberships.